Welcome!

News Feed Item

Bridgepoint Backs Acquisition of SPP Process Technology Systems (SPTS)

NEWPORT, UNITED KINGDOM and LONDON, UNITED KINGDOM -- (Marketwire) -- 06/27/11 -- SPP Process Technology Systems (SPTS), a subsidiary of Sumitomo Precision Products ('SPP') and leading manufacturer of etch, deposition, and thermal processing equipment for the semiconductor industry announced today that Bridgepoint, a European private equity firm is backing a management acquisition of SPTS from SPP.

SPTS designs, develops and manufactures capital equipment that is used in the production of devices on semiconductor substrates. SPTS serves a number of end-markets including micro electro-mechanical systems (MEMS), power management, advanced packaging, high speed RF components, and light emitting diodes (LEDs) on compound semiconductor substrates. With over 500 employees in manufacturing, sales and service operations across 19 countries, SPTS serves the world's leading micro-device manufacturers through its main operations in Newport, Wales and San Jose, California. In 2010 it generated sales of $217 million and Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) of $58 million.

SPTS President and CEO William Johnson said, "The investment by Bridgepoint in SPTS signifies the next stage in our evolution as a market leader in the MEMS, compound semiconductor, advanced packaging and power markets. SPP's support in the company has been invaluable, and the Board is grateful for the success enabled by SPP." "We are constantly looking to develop our capabilities to meet future customer needs and with Bridgepoint as a new investment partner, their financial and commercial expertise will be a key pillar to our expansion."

"I have been closely involved in the development of SPTS following the time with STS since its acquisition made by SPP in 1995. Consequently, I am very pleased with our decision to support the management team's plans to take SPTS forward," said Susumu Kaminaga, president, SPP. "They have become important colleagues and I wish them well in their endeavours in the future. For SPP, this transaction allows us to focus on other areas of our business which offer attractive investment opportunities. However, we will continue to co-operate with SPTS, retaining a stake and working together with them through a joint venture for the Japanese market."

Bridgepoint believes SPTS represents an attractive opportunity to acquire a market leader in the wafer fabrication equipment sector. Chris Bell, a director at Bridgepoint, said, "SPTS has strong positions in every sector in which it operates, and a global customer base in end markets poised for long term growth. In addition, we have identified with management a number of initiatives to optimise its operational performance, including acquisitions in attractive niche markets and joint ventures, such as the BluGlass agreement."

Under the terms of the acquisition, its former parent SPP will continue to partner the business by taking a minority stake in the new business organisation. The company name will remain as SPTS.

Advisers involved in this transaction include: for vendor - BDO (corporate finance), Bingham (legal); for management - Osborne Clarke (legal), Ernst & Young (corporate finance); for Bridgepoint - Ernst & Young (transaction services), Travers Smith (legal), McKinsey, Prismark and OC&C (market due diligence). The transaction is subject to standard competition clearances.

ABOUT SPTS

SPP Process Technology Systems was established in October 2009 as the vehicle for the merger of Surface Technology Systems and acquired assets of Aviza Technology. The company was a wholly-owned subsidiary of Sumitomo Precision Products Co., Ltd., and designs, manufactures, sells, and supports advanced semiconductor capital equipment and process technologies for the global semiconductor industry and related markets. These products are used in a variety of market segments, including R&D, data storage, MEMS and nanotechnology, advanced 3-D packaging, LEDs, and power integrated circuits for communications. See www.spp-pts.com.

ABOUT Bridgepoint

Bridgepoint is a European private equity firm focussing on the acquisition of companies valued up to EUR1 billion. With some EUR11 billion of capital raised to date, it typically focuses on acquiring well managed companies in attractive sectors with the potential to grow organically or through acquisition. Although a generalist investor, Bridgepoint has developed expertise in the business services, consumer, financial services, healthcare, media, and industrial sectors. It has offices throughout Europe in Frankfurt, Helsinki, Istanbul, London, Luxembourg, Madrid, Milan, Paris and Stockholm.

Bridgepoint is currently investing a EUR4.8 billion fund, Bridgepoint Europe IV, which had its final closing in November 2008 and has made nine investments to date. Recent investments made by Bridgepoint include the acquisition of German specialty chemicals company CABB in March this year and of Foncia, the French leader in property management services, in June. See www.bridgepoint.eu.

Contacts:
Bridgepoint
James Murray
+44 20 7432 3555 or +44 7802 259761
[email protected]
www.bridgepoint.eu

SPTS
Evelyn Tay
+44 7885 70 6565 (Europe/U.S.)
+65 8383 0393 (Asia-Pacific)
[email protected]
www.spp-pts.com

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
"Space Monkey by Vivent Smart Home is a product that is a distributed cloud-based edge storage network. Vivent Smart Home, our parent company, is a smart home provider that places a lot of hard drives across homes in North America," explained JT Olds, Director of Engineering, and Brandon Crowfeather, Product Manager, at Vivint Smart Home, in this SYS-CON.tv interview at @ThingsExpo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
The question before companies today is not whether to become intelligent, it’s a question of how and how fast. The key is to adopt and deploy an intelligent application strategy while simultaneously preparing to scale that intelligence. In her session at 21st Cloud Expo, Sangeeta Chakraborty, Chief Customer Officer at Ayasdi, provided a tactical framework to become a truly intelligent enterprise, including how to identify the right applications for AI, how to build a Center of Excellence to oper...
"IBM is really all in on blockchain. We take a look at sort of the history of blockchain ledger technologies. It started out with bitcoin, Ethereum, and IBM evaluated these particular blockchain technologies and found they were anonymous and permissionless and that many companies were looking for permissioned blockchain," stated René Bostic, Technical VP of the IBM Cloud Unit in North America, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Conventi...
In his session at 21st Cloud Expo, James Henry, Co-CEO/CTO of Calgary Scientific Inc., introduced you to the challenges, solutions and benefits of training AI systems to solve visual problems with an emphasis on improving AIs with continuous training in the field. He explored applications in several industries and discussed technologies that allow the deployment of advanced visualization solutions to the cloud.
"ZeroStack is a startup in Silicon Valley. We're solving a very interesting problem around bringing public cloud convenience with private cloud control for enterprises and mid-size companies," explained Kamesh Pemmaraju, VP of Product Management at ZeroStack, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
In his session at 21st Cloud Expo, Carl J. Levine, Senior Technical Evangelist for NS1, will objectively discuss how DNS is used to solve Digital Transformation challenges in large SaaS applications, CDNs, AdTech platforms, and other demanding use cases. Carl J. Levine is the Senior Technical Evangelist for NS1. A veteran of the Internet Infrastructure space, he has over a decade of experience with startups, networking protocols and Internet infrastructure, combined with the unique ability to it...
22nd International Cloud Expo, taking place June 5-7, 2018, at the Javits Center in New York City, NY, and co-located with the 1st DXWorld Expo will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud ...
Enterprises are adopting Kubernetes to accelerate the development and the delivery of cloud-native applications. However, sharing a Kubernetes cluster between members of the same team can be challenging. And, sharing clusters across multiple teams is even harder. Kubernetes offers several constructs to help implement segmentation and isolation. However, these primitives can be complex to understand and apply. As a result, it’s becoming common for enterprises to end up with several clusters. Thi...
"Infoblox does DNS, DHCP and IP address management for not only enterprise networks but cloud networks as well. Customers are looking for a single platform that can extend not only in their private enterprise environment but private cloud, public cloud, tracking all the IP space and everything that is going on in that environment," explained Steve Salo, Principal Systems Engineer at Infoblox, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Conventio...
"Cloud Academy is an enterprise training platform for the cloud, specifically public clouds. We offer guided learning experiences on AWS, Azure, Google Cloud and all the surrounding methodologies and technologies that you need to know and your teams need to know in order to leverage the full benefits of the cloud," explained Alex Brower, VP of Marketing at Cloud Academy, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clar...
Gemini is Yahoo’s native and search advertising platform. To ensure the quality of a complex distributed system that spans multiple products and components and across various desktop websites and mobile app and web experiences – both Yahoo owned and operated and third-party syndication (supply), with complex interaction with more than a billion users and numerous advertisers globally (demand) – it becomes imperative to automate a set of end-to-end tests 24x7 to detect bugs and regression. In th...
Widespread fragmentation is stalling the growth of the IIoT and making it difficult for partners to work together. The number of software platforms, apps, hardware and connectivity standards is creating paralysis among businesses that are afraid of being locked into a solution. EdgeX Foundry is unifying the community around a common IoT edge framework and an ecosystem of interoperable components.
Agile has finally jumped the technology shark, expanding outside the software world. Enterprises are now increasingly adopting Agile practices across their organizations in order to successfully navigate the disruptive waters that threaten to drown them. In our quest for establishing change as a core competency in our organizations, this business-centric notion of Agile is an essential component of Agile Digital Transformation. In the years since the publication of the Agile Manifesto, the conn...
"MobiDev is a software development company and we do complex, custom software development for everybody from entrepreneurs to large enterprises," explained Alan Winters, U.S. Head of Business Development at MobiDev, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
Large industrial manufacturing organizations are adopting the agile principles of cloud software companies. The industrial manufacturing development process has not scaled over time. Now that design CAD teams are geographically distributed, centralizing their work is key. With large multi-gigabyte projects, outdated tools have stifled industrial team agility, time-to-market milestones, and impacted P&L stakeholders.